Sir Mervyn King
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Bank of England warns of 'financial storms'

The Governor of the Bank of England, Sir Mervyn King has urged banks to brace themselves for a potential eurozone collapse.

Delivering a financial stability report he warned that financial systems around the world are vulnerable to the eurozone debt crisis .

He said: "In the UK, we most try to bolster the resilience of our financial system to better withstand the storms that may come in our direction."